Earnings reporters are more than 50 points off the Dow's price
The four Dow Jones Industrial Average components that reported earnings Tuesday are accounting for more than a third of the Dow's projected declines ahead of the open. Among Dow components that reported, shares of 3M Co. (MMM) shed 4.9% to lead the decliners, with the implied price decline representing about a 38-point reduction in the Dow's price. Verizon Communications Inc.'s stock (VZ) followed with a 2.2% drop, and a 6-point cut in the Dow's price. Shares of Johnson & Johnson(JNJ) dropped 1.1%, and was taking 12 points off the Dow, while Travelers Companies Inc. shares (TRV) slipped 0.1% to trim 2 points off the Dow. In total, the earning reporters were shaving about 58 points off the Dow, while Dow futures fell 150 points, or 0.4%.
-Tomi Kilgore
(END) Dow Jones Newswires
January 24, 2023 09:11 ET (14:11 GMT)
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